The Permian Basin of West Texas and Southeast New Mexico is one of the largest and most active oil basins in the United States, accounting for approximately 16 percent of all U.S. oil production in 2014. Occidental is the largest operator and largest oil producer in the Permian Basin, where we account for approximately 13 percent of total oil produced.
The Permian Basin is home to Occidental’s domestic core asset. We have nearly 5 million gross acres with over 12,000 Oxy-operated gross oil and gas wells, and we produce from every producible formation in the Basin. Occidental’s Permian oil and gas production accounted for nearly 38 percent of our 2014 total worldwide production.
